Fixed Options. The amount of each fixed annuity payment is determined by multiplying the available Contract Value (after the deduction of any premium taxes not previously deducted) by the factor in the Fixed Option Table for the option chosen, using the age and sex of the Annuitant and Joint Annuitant, if any, divided by 1,000. The tables are determined from the 1983 Individual Annuity Mortality Table with interest at the rate of 3% per annum. If, when annuity payments are elected, We are using tables of annuity rates for these contracts which result in larger annuity payments, We will use those tables instead. The amount of the first variable annuity payment depends on the Annuity Option elected and the age and sex of the Annuitant. This contract contains a Variable Options Table indicating the dollar amount of the first monthly payment under each optional annuity form for each $1,000 of value applied. The tables are determined from the 1983 Individual Annuity Mortality Table with interest at the rate of 5% per annum. If, when annuity payments are elected, We are using tables of annuity rates for these contracts which result in larger annuity payments, We will use those tables instead. The 5% interest rate assumed in the annuity tables would produce level annuity payments if the net investment rate remained constant at 5% per year. Subsequent payments will be less than, equal to, or greater than the first payment depending upon whether the actual net investment rate is less than, equal to, or greater than 5%. The dollar amount of the first variable annuity payment is determined by applying the available value (after deduction of any premium taxes not previously deducted) to the table using the age and sex of the Annuitant and any joint Annuitant. The number of Annuity Units is then determined by dividing this dollar amount by the then current Annuity Unit value. Thereafter, the number of Annuity Units remains unchanged during the period of annuity payments. This determination is made separately for each Subaccount of the Variable Account. The number of Annuity Units is determined for each Subaccount and is based upon the available value in each Subaccount as of the date annuity payments are to begin. The dollar amount determined for each Subaccount will then be aggregated for purposes of making payments. The dollar amount of the second and later variable annuity payments is equal to the number of Annuity Units determined for each Subaccount times the Annuity Unit value ...
Fixed Options. With respect to allocations made to the Fixed Options, we may defer surrenders, withdrawals, loans (except for loans to pay a premium on any policy issued by us), and transfers from the Fixed Options, for up to six months after we receive your request. Deferral — If we defer payment of surrenders, withdrawals or loans for more than 10 days after we receive your request, we will pay interest at the rate required by the state in which this policy is delivered, but not less than an annual rate equal to the guaranteed rate payable on the Fixed Options.
Fixed Options. Beginning with the fiscal year ending May 31, ------------- 1999, and immediately after each subsequent fiscal year end during the Contract Term, the Executive shall be entitled to receive fully vested options to purchase 25,000 shares of Common Stock per Contract Year.
Fixed Options. The Fixed Options are comprised of one or more Fixed Accounts. We reserve the right to add additional Fixed Accounts or to terminate or suspend one or more of the Fixed Accounts at any time. In such case, we will notify you of the change at your last known address. If we terminate a Fixed Account, we will transfer the assets held in that Fixed Account to another Fixed Account that we will identify in the notification. Variable Options – The Variable Options are comprised of one or more Variable Accounts. We reserve the right to add additional Variable Accounts or to terminate one or more of the Variable Accounts at any time. In such case, we will notify you of the change at your last known address. If we terminate a Variable Account, we will transfer the assets held in that Variable Account to another Investment Option that we will identify in our notification. Indexed Fixed Account Options – The Index Fixed Account Options are comprised of one or more Indexed Accounts. We reserve the right to add additional Indexed Accounts or to terminate one or more of the Indexed Accounts at any time. In such case, we will notify you of the change at your last known address. At Segment Maturity, any Segment Maturity Value allocated to the terminated Indexed Account will be reallocated to another Investment Option that we will identify in our notice to you.
Fixed Options. The Fixed Options are comprised of one or more Fixed Accounts. We reserve the right to add additional Fixed Accounts or to terminate or suspend one or more of the Fixed Accounts at any time. In such case, we will notify you of the change at your last known address. If we terminate a Fixed Account, we will transfer the assets held in that Fixed Account to another Fixed Account that we will identify in the notification. Variable Options – The Variable Options are comprised of one or more Variable Accounts. We reserve the right to add additional Variable Accounts or to terminate one or more of the Variable Accounts at any time. In such case, we will notify you of the change at your last known address. If we terminate a Variable Account, we will transfer the assets held in that Variable Account to another Investment Option that we will identify in our notification.
Fixed Options consist of the Fixed Account and the Fixed LT Account, which are part of our general account. Home Office – means our Life Insurance Client Services offices. Insured – is the person insured under this policy, as shown in the Policy Specifications. Investment Options – consist of the Variable Accounts and the Fixed Options. Monthly Payment Date – is the day each month on which certain policy charges are deducted from the Accumulated Value. This first Monthly Payment Date is the Policy Date. Later Monthly Payment Dates are the same day each month thereafter. Net Amount at Risk – is equal to the death benefit as of the most recent Monthly Payment Date divided by the Divisor for Calculating the Net Amount at Risk shown in the Policy Specifications, then reduced by the Accumulated Value at the beginning of the policy month before the Monthly Deduction is due. The Accumulated Value section describes how the Net Amount at Risk is used to calculate the Cost of Insurance Charge. Net Premium – is the premium we receive reduced by any Premium Load. PL, we, our, ours, us and the Company – refer to Pacific Life Insurance Company. Policy Date – is shown on page 3. Policy months, years and anniversaries are measured from this date. Policy Debt – is the sum of outstanding policy loans plus accrued Loan Interest.
Fixed Options consist of the Fixed Account and the Fixed LT Account, which are part of our general account. “Fixed Accounts”, when used in plural, may be used in lieu of “Fixed Options”.
Fixed Options consist of the Fixed Account and the Fixed LT Account, which are part of our general account. Insureds – are the two persons insured under this policy, consisting of the Insured and the Additional Insured. The Insureds are shown in the Policy Specifications. Investment Options – consist of the Variable Accounts and the Fixed Options. In Force – means a policy is in effect and provides a death benefit on the Insureds. Monthly Deduction End Date – is shown in the Policy Specifications and is the date when Monthly Deductions end. Monthly Payment Date – is the same day in each month as the Policy Date and is the date on which certain policy charges are deducted from the Accumulated Value. The first Monthly Payment Date is the Policy Date. Net Accumulated Value – is the Accumulated Value less any Policy Debt. Net Amount at Risk – is equal to the Death Benefit as of the most recent Monthly Payment Date divided by the Net Amount at Risk Factor shown in the Policy Specifications, reduced by the Accumulated Value. The Accumulated Value used in this calculation will be as of the beginning of the policy month before the Monthly Deduction is assessed. The Net Amount at Risk is used to calculate the Cost of Insurance Charge (see the Policy Charges section).
Fixed Options. The Indexed Fixed Options are comprised of one or more Indexed Accounts. We reserve the right to add additional Indexed Accounts or to terminate one or more of the Indexed Accounts at any time. In such case, we will notify you of the change at your last known address. At Segment Maturity, any Segment Maturity Value allocated to the terminated Indexed Account will be reallocated to another Investment Option that we will identify in our notice to you. ICC19 P19VUL Page [12]
Fixed Options. Based upon a set time frame or payment amount.
